Chanel’s sales will exceed 16 billion euros in 2022

Chanel, on the other hand, is posting record sales. Four months after the annual results of its French rivals LVMH and Kering were published, the fashion house, owned by brothers Alain and Gerard Wertheimer since 1996, said in a press release on Thursday (May 25) that it had achieved success. “Solid financial performance” in fiscal year 2022. Its sales increased by 17% compared to 2021 and reached 17.2 billion dollars, or 16.1 billion euros. Its profitability improved by 6% during this period, bringing its operating margin to 33.5%.

Led by Leena Nair, former HRD of the Unilever group, from January 2022, the group, known for its haute couture and ready-to-wear lines designed by Virginie Viard, its fragrances and cosmetics, has benefited from renewed activity in Europe. (+30%), despite the decline in sales to Chinese tourists in France (−14% compared to 2019). In Asia-Pacific, where the group generates 50% of sales, activity benefited from 14% growth in 2022. In the Americas, a post-pandemic growth market, turnover increased by 9.5%.

He grew up in the United States “Two figures for the whole year”, Reuters reports. However, CFO Philippe Blondia told the Economic Information Agency that in this country, “The trend has definitely slowed down after November 2022”. The remark will not be analyzed by global luxury sector watchers, weeks before the half-year results of luxury groups LVMH, Kering and Hermès are scheduled to be released at the end of July. The first two account for 27% of their sales across the Atlantic. Hermes gets 18%.

staff increase

However, Chanel will continue to open stores in the United States, Mr. Blondio said. In 2022, the group devoted 3.9% of its turnover to investments, i.e. 625 million euros. In addition, it has spent almost 2 billion euros on promoting its brand in 2022, which is 14.3% more than in 2021. In particular, through customer events organized throughout the year »– says Chanel.

Essentially, the group is thus underlining how the 2022 financial year is a return to normality, with parades and advertising campaigns canceled after 2020 and 2021, given the global health situation. the fact “In all categories”Recalls Mr. Blondiaux, the brand exceeded the activity levels recorded in 2019.